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A hotter-than-expected US CPI report pushed the 2-year Treasury yield up 17.6 basis points and steepened the curve. Fed Governor Waller has raised the possibility of a 50 basis point hike in December, and other Fed members have backed further tightening.
KBC estimates that inflation remains near 4% headline, with the money market now weighing a larger December move.
Higher US rates and a firmer dollar tend to weigh on dollar-denominated commodity prices and raise financing costs for feed importers and livestock producers. Buyers should expect pressure on imported ingredient costs if the dollar keeps strengthening.
fxstreet.comKBC Market Research DeskNov 12, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
